Company Profile: Intermex - International Money Express
Background
Overview
Founded in 1994, Intermex - International Money Express, Inc. is a leading provider of omnichannel money transfer services, enabling consumers to send funds from the United States, Canada, Spain, Italy, the United Kingdom, and Germany to over 60 countries worldwide. The company offers digital money movement through a network of agent retailers, company-operated stores, mobile applications, and websites. Transactions are fulfilled and paid through thousands of retail and bank locations globally. Headquartered in Miami, Florida, Intermex also maintains international offices in Puebla, Mexico; Guatemala City, Guatemala; London, England; and Madrid, Spain.
Mission and Vision
Intermex's mission is to provide fast, secure, and convenient money transfer services, connecting families and businesses across borders. The company's vision is to be the preferred choice for remittance services, leveraging technology and a vast network to deliver exceptional customer experiences.
Industry Significance
As a prominent player in the remittance industry, Intermex has established a strong presence in key corridors, particularly in Latin America. The company's growth and market share reflect its significant role in facilitating cross-border financial transactions.
Key Strategic Focus
Core Objectives
- Expansion of Service Offerings: Enhancing digital platforms and expanding the range of services to meet diverse customer needs.
- Market Penetration: Increasing market share in existing corridors and entering new geographic regions.
- Customer Experience: Improving service quality through technological innovation and strategic partnerships.
Areas of Specialization
- Omnichannel Money Transfers: Providing multiple channels for sending and receiving money, including retail locations, digital platforms, and mobile applications.
- Cross-Border Payments: Facilitating international money transfers with a focus on Latin America, Africa, Asia, and Europe.
Key Technologies Utilized
- Proprietary Technology: Developing and implementing technology solutions to streamline money transfer processes.
- Digital Platforms: Enhancing mobile applications and websites to offer user-friendly interfaces for customers.
Primary Markets Targeted
- Latin America: Key markets include Mexico, Guatemala, El Salvador, Honduras, and the Dominican Republic.
- Africa: Expanding services to various countries to serve the African diaspora.
- Asia and Europe: Providing remittance services to select countries in these regions.
Financials and Funding
Funding History
Intermex has undergone several funding phases, including private equity investments and public offerings. In 2017, the company was acquired by Stella Point Capital, a New York-based private equity firm. In 2018, Intermex went public through a merger with FinTech Acquisition Corp., a special purpose acquisition company (SPAC).
Recent Funding Rounds
Specific details regarding recent funding rounds are not publicly disclosed.
Notable Investors
- Stella Point Capital: Acquired a majority stake in Intermex in 2017.
- FinTech Acquisition Corp.: Merged with Intermex in 2018, facilitating its public listing.
Utilization of Capital
The capital raised has been utilized for:
- Expansion Initiatives: Entering new markets and enhancing service offerings.
- Technological Development: Investing in digital platforms and proprietary technologies.
- Strategic Partnerships: Forming alliances to strengthen market position and service capabilities.
Pipeline Development
Key Pipeline Candidates
Intermex has been involved in strategic partnerships and acquisitions to enhance its service offerings:
- La Nacional Corp. Acquisition: Announced in November 2022, this acquisition aimed to strengthen Intermex's position in key markets.
Stages of Development
- Integration Phase: Post-acquisition integration of La Nacional Corp. to leverage synergies and expand market reach.
Target Conditions
- Geographic Expansion: Enhancing presence in Latin American markets, particularly Mexico and Guatemala.
- Service Diversification: Broadening the range of financial services offered to customers.
Anticipated Milestones
- Operational Integration: Achieving seamless integration of La Nacional Corp. operations.
- Market Share Growth: Increasing market share in targeted regions through expanded service offerings.
Technological Platform and Innovation
Proprietary Technologies
- Digital Remittance Platform: A secure and efficient system for processing international money transfers.
- Mobile Application: A user-friendly app enabling customers to send and receive money conveniently.
Significant Scientific Methods
- Data Analytics: Utilizing data to optimize transaction processes and customer experiences.
- Security Protocols: Implementing advanced security measures to protect customer information and transactions.
Leadership Team
Key Executives
- Bob Lisy: Chairman, CEO, and President. Joined Intermex in 2009, leading the company through significant growth and expansion.
Leadership Changes
- 2017: Acquired by Stella Point Capital.
- 2018: Merged with FinTech Acquisition Corp., becoming a publicly traded company.
Competitor Profile
Market Insights and Dynamics
- Market Size: The global remittance market is substantial, with significant volumes transferred annually, particularly to Latin America.
- Growth Potential: Continued expansion in digital remittance services and entry into new markets offer growth opportunities.
- Industry Trends: Increasing adoption of digital platforms and mobile applications for money transfers.
Competitor Analysis
- Western Union: A major competitor in the remittance industry, offering extensive global reach and a wide range of services.
- MoneyGram: Another significant player, providing similar services with a focus on international money transfers.
Strategic Collaborations and Partnerships
- Western Union Acquisition: Announced in August 2025, Western Union agreed to acquire Intermex in an all-cash transaction valued at approximately $500 million, aiming to strengthen its North American retail presence and expand market coverage.
- Zeepay Partnership: In July 2025, Intermex partnered with Zeepay, a fintech company focused on Africa, to expand money transfer services to African communities abroad.
Operational Insights
- Competitive Advantages: Intermex's extensive agent network, digital platforms, and customer service excellence provide a strong competitive edge.
- Market Position: The company holds a significant market share in key corridors, particularly in Latin America.
Strategic Opportunities and Future Directions
- Digital Expansion: Enhancing digital platforms to offer seamless money transfer experiences.
- Geographic Diversification: Entering new markets to broaden the customer base.
- Service Innovation: Developing new financial products to meet evolving customer needs.
Contact Information
- Official Website: www.intermexonline.com
- LinkedIn: Intermex - International Money Express
Note: As of August 2025, Western Union announced plans to acquire Intermex, which may impact the company's future operations and strategic direction.
